Moody's assigns Colgate bond Aa3

Moody's Investors Service said it assigned an Aa3 rating to Colgate-Palmolive Co.'s planned €500 million of senior unsecured notes.

Colgate's other ratings including the Aa3 senior unsecured rating, are not affected by the offering.

The company is expected to allocate an amount equal to the net proceeds to finance or refinance, in part or in full, one or more new or existing eligible projects under the company's sustainable financing framework. “The issuance is credit positive because it extends average maturities without increasing leverage,” Moody’s said in a press release.

The outlook is stable.

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